(4 Feb 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Frankfurt, Germany – 04 February 2025
1. Trading floor of German stock exchange
2. Group of traders working
3. Screen showing DAX index first price close
4. Trader
5. Screen showing DAX board first price complete
6. SOUNDBITE (German) Arthur Brunner, trader from ICF BANK:
“President Trump’s announcement of punitive tariffs against Mexico, Canada, China and the European Union has really shocked the markets. In the meantime, the DAX has lost more than 2%. The situation has since eased somewhat after President Trump announced that he would introduce a grace period with Mexico and Canada. However, the markets are still unsettled. You can feel that in the trend today.”
7. Traders at work and people on the trading floor
8. Trader
9. Trading floor of German stock exchange with DAX board
10. Group of traders working
11. SOUNDBITE (German) Arthur Brunner, trader from ICF BANK:
“It is to be feared that a trade war will break out with punitive tariffs on each other. And that will fuel inflation. This will deprive central banks of the opportunity to cut interest rates further. And the markets are banking on falling interest rates. And that could therefore further unsettle the markets.”
12. Various of traders at work
13. Screen showing early DAX trade trending down
14. Traders at work and people on the trading floor
15. SOUNDBITE (German) Arthur Brunner, trader from ICF BANK:
“So it’s not a sustained crash yet. We have been up significantly since the beginning of the year. There has now been a breather, and it remains to be seen whether we can agree on a basis or whether there will be a trade war, which would of course lead to prices falling much further. But we are clearly up on the start of the year. So at the moment, we can’t speak of a dramatic situation.”
16. Various of trader at work
17. Market board close, some values in negative
18. Top shot of traders at work
STORYLINE:
German stocks stabilized on Tuesday after the United States suspended planned tariffs of 25% on Mexico and Canada.
The DAX, Germany’s top stock market index, rose by 0.07% in early trading to 21,443.71 points, having dropped sharply on Monday.
The second-tier MDAX was also stable, up 0.11% to 26,358.80 points, while the eurozone’s leading index, EURO STOXX 50, inched up by 0.12%.
Fears of an escalating trade conflict hit global markets on Monday, with Germany’s export-based economy at particular risk.
The DAX is still down significantly from Friday’s record high of 21,800 points.
US President Donald Trump paused the customs duties for an initial period of 30 days following promises from Mexico and Canada to increase border security measures.
"It’s not a sustained crash yet," said Arthur Brunner, a trader from ICF BANK, stressing that the DAX was still up since the beginning of the year.
"There has now been a breather, and it remains to be seen whether we can agree on a basis or whether there will be a trade war, which would of course lead to prices falling much further," he added.
US tariffs of 10% on Chinese goods took effect on Tuesday, with Beijing set to retaliate with duties of 15% on US liquefied natural gas (LNG) products and coal.
AP video shot by Ralph Ossenbuehn
===========================================================
Clients are reminded to adhere to all listed restrictions and to check the terms of their licence agreements. For further assistance, please contact the AP Archive on: Tel +44(0)2074827482 Email: info@aparchive.com.
Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Twitter: https://twitter.com/AP_Archive
Facebook: https://www.facebook.com/APArchives
Instagram: https://www.instagram.com/APNews/
You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/0dbea8a452b94c5d8860faf31294447f
Author: AP Archive
Go to Source
News post in February 9, 2025, 12:04 pm.
Visit Our Sponsor’s:
News Post In – News
